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Elliotwavesharmonics

Philakone is MAD! Know your ELLIOT WAVE-Theory now! Dear Friends! D4rkEnergy is back with an educational post about Elliot Wave-Theory. Yesterday, Philakone, a famous crypto-trader and TA-educator, was calling out one of the Top Authors in here, because he could not figure out how to draw lines. Philakone wrote the following on Twitter: "How to NOT draw Elliot Waves. it blows me away... this guy has one of the highest reputations on tradingview, and his elliot wave is shit. Ignoring the most BASIC rule of elliot wave in zig zags..." D4 is not here to create drama. D4 is not here to get enemies. D4 is only here to spread love and wisdom. He wants everyone to have success, therefore he decided to make this basic guide to Elliot Wave Theory. It is pretty complex if we go into the smallest details, but let us keep it basic for now. We are here looking at the 30 min BTCUSD Chart. ELLIOT WAVE THEORY Ralph Nelson Elliott developed the Elliott Wave Theory in the late 1920s. He believed that stock markets was traded in repetitive waves and cycles. According to Investopedia this method gained popularity in the 1970s. Traders try to identify these waves and patterns, because it can help them predict the market. - 1 Cycle contains in total of 8 waves. 5 waves (1-5), which follows the trend, and then a correction pattern A, B, C. We also call this a 5-3 pattern. - Wave 1, 3, and 5 are impulse waves up - 2 and 4 are correction waves down - A, B, C are the correction As you can see, Inside every wave we can have smaller waves, also called sub waves. Basic rules: 1. Wave 4 always have to be above wave 1. 2. Wave 3 can never be the shortest. If these rules are broken, we have what we call an Elliot Wave failure. And therefore it is not a real Elliot Wave Cycle. This was a really short introduction. D4 encourage you guys to dig deeper into this! D4 loves you <3 And as always. Please follow D4 and give a LIKE, if you liked the analysis. It is much appreciated. Thanks in advance, my friends!
COINBASE:BTCUSDEducation
by D4rkEnergY
103
ETHUSD - Market overview...ETHUSD is still developing corrective 2nd wave structure...We have 2 potential H&S and iH&S pattern formations. Bullish iH&S (red) with right shoulder around 750-700$ and bearish one (blue) with potential right shoulder ~880$. Maximum target profit for bearish H&S goes exactly to the recent low around 570$. In my opinion technically we should see at least retest of recent lows in coming days/weeks. I see potential extension of this corrective structure toward 420-440$ where goes the alltime trendline and 0.706retr of whole upward swing. Recent upward movement was clear 3-3-5 (ABC) correction marked as X wave. With that in mind we should develop Y wave of WXY correction, and that would end 2nd wave corrective structure. Trade responsibly.
BITFINEX:ETHUSDShort
by Fx-Nature
1
The next couple of days.. The next several hours are critical to show if we bounce against the trend line or if we break it. The china news unfortunately came at the wrong time and could be likely to sway the decision the other way, breaking the trend line and going into the bearish zone.. possibly bouncing back to 38.5 level first.. several challenges ahead. On the brighter side, if this is what it looks like.. a double triple combo elliot wave, then we should be bouncing back to high 50s, testing the trend line of this recent ABC wave. RSI and MACD are in the oversold territory but it looks like it could take another cycle there..
COINBASE:LTCUSD
by telnemri
NZD/USD Short!NZD/USD looks short for multiple reasons. Besides seeing significant strength in the USD the next two weeks, it looks like this has ran out of steam. Nice rejection of the resistance on the daily with beautiful rejection wicks. Formed a lower high and a lower low on the 4 hour. also broke the support on the 4 hour so we might be on our third wave down which typically reaches 1.6% or more of the first drive of elliot wave theory. Looks like a quick 100+ pips. My stop will be 1 pip above the most recent high of the month.
Short
by minthooka
i Love Gold Trading is like the story of the famous hollywood movie "life of pi". Crossing the sea on lifeboat with a hungry tiger. It's possible if you have "knowledge and courage". I decided to shrink myself into a small room with opening a personal blog where I wish to meet ONLY Gold Lovers. You can reach to my my web space by typing www.iLoveGold.net Again it's too late to publish another idea. I am too lazy to do it. When switched to swing trade, I feel more relaxed and enjoying the rest of the time into further activities. There is no commercial interest behind my personal web space. It would be a light house for every ship who pass by. I wish to share the most appropriate Elliott wave analysis on gold which filtered from divergence trade strategy. Where we reach gold this year? I expect this to reach 1050 by end of this year once again. Where we go from here? We are in a big Samosa, it's a tasty snack shaped like Triangle. Triangles are boring because it's consolidation method just to waste time. Most probably we break down. How should I determine when we come out of Triangle? Many of the analysis are very good in finding direction and they are succeeded many time in it. But it's only few to analysis Price over "Time". To be a great swing trader we need to know the Price over Time. You need to know what is "Zero Sum Game". To measure time you need to use Fib analysis and Fib time tools. Learn about it I took the short entry from here to wards 1198. I am expecting the next swing should be bear with No mercy :) Let me share few chart ideas hidden in this swing Bearish Butterfly - Harmonic pattern + Broken TL Testing Aggressive C wave - Elliotwave pattern The great Samosa - Consolidation pattern Gartley - Supports to consider Harmonic pattern Chypher - Harmonic pattern Shark - Harmonic pattern Bullish Butterfly - Harmonic pattern. 5th wave, Ending diagonal
FX:XAUUSD
by VRShaiju
2
GOLD Shark patternHi traders, Here we have a bullish shark pattern. Price has completed the C leg which validates a potential bullish shark pattern. It could complete at the 88.6% retracement, or extend to the latter PRZ. I will update this idea as the price nears the PRZ level. Like and follow if you wish to continue seeing my trading ideas, I primarily post to help people with their trading. So, please like and follow to motivate me to continue posting profitable ideas. Best regards, Tom_Killick
FX:XAGUSDLong
by TomProTrader
16
AUDJPY (Long) TradeFurther to the earlier view that the AUDJPY pair was neutral, we have now adopted a bullish bias for the pair. AUDJPY pair appears to have traced out a bullish structure with current price action having acted like a bounce off 81.696/81.386 critical support zone. Next move appears to be shaping up for what looks like final wave 5 of a possible initial impulse. Target is actually 38.2% (87.265) expansion of the move from 72.399 to 87.330 @ 81.590 first. Daily close above that level should target 61.8% (90.772) expansion level and further close above that level should see 100% (96.447) expansion level.
Long
by magbrr